14 Mar 2024 09:27

SIBUR transforming management model to support development of key sectors

MOSCOW. March 14 (Interfax) - Russian petrochemical group SIBUR will begin to transform its business management model in April and switch from working within a structure of product divisions to a sectoral model, the company said.

The group will replace its base polymer directorate, plastics and organic synthesis directorate and synthetic rubber directorate with sectoral divisions for the agribusiness sector, secondary processing, flexible packaging, rigid packaging, engineering and road infrastructure, medicine, oil and gas processing and production, consumer goods, construction, transport, e-commerce and partnerships.

SIBUR said it believes its primary job is to meet demand from Russian customers that in turn meet the needs of sectors of industry that are important to society.

The company said the transition to a sectoral model will make it possible to expand Russian manufacturers' ability to sell products by stimulating the use of domestic solutions and the search for new niches for their application and, consequently, reduce imports of finished products.

SIBUR put 27 new brands of petrochemical products on the market in 2023 with potential of 111,000 tonnes per year. Consumption of polypropylene and polyethylene has grown by 35% in the past ten years.

SIBUR said its measures to develop demand for polymers and programs to support customers have helped to gradually reduce imports of both polymers and finished products made from them. Russian imports of polymers have dropped by more than 30% since 2014, the company said.